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The future of Bitcoin & 9 ways to improve it

Last weekend (8-9 October) they came together in Milan, Italy at Scaling Bitcoin #3. I was not present, but I still wanted to add value as I fundamentally believe an open blockchain like Bitcoin's can make the world a better place. So I went through all the transcripts on scalingbitcoin.org to create a (hopefully) clear overview of the future of Bitcoin for (potential) Bitcoin users.

Interested in learning more? Check out my website or book me as a speaker: http://samwouters.com/

4.
@SDWOUTERS
Bitcoin has been running non-stop for 7+ years
160M 434K $150M $105B
Transactions Blocks in the
blockchain
in transactions
per day currently
Transferred over
the blockchain
466M 16M 10B 100K
bitcoins
transferred over
the blockchain
Amount of
Bitcoins that
currently exist
Value of all
bitcoins
companies that
(indirectly)
accept bitcoins

5.
"Don't forget that the millions of people all over the world
who are now part of the Bitcoin network were once very
strong skeptics. This includes people with decades of
experience in network security and cryptography."
~Andreas Antonopoulos

7.
@SDWOUTERS
‣ Bitcoin is only 7 years old, it
still needs a lot of development.
‣ We have never tried THIS before
and it is about MONEY, not info.
‣ It’s like the Internet in the 90s:
‣ People don't get it.
‣ It looks ugly.
‣ We have few use cases.
‣ People don’t see how it will
change the world.
‣ Those who are disrupted by it
will do everything to stop it.
‣ Mainstream 10 years later
‣ Mass adoption 20 years later

8.
@SDWOUTERS
Today there are Millions, but not
Billions of people using Bitcoin

9.
@SDWOUTERS
One of the main hurdles for mass adoption:
Scalability of the network
*As a trade-off to be decentralized
3-7 transactions
per second*
185+ transactions
per second
Up to 24k transactions
per second

10.
So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
@SDWOUTERS

11.
So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
There is less space to add new users that
can use Bitcoin for tiny transaction fees.
(Now around $0.12 per transaction)
@SDWOUTERS

29.
@SDWOUTERS
7 Make it easier/rewarding to run a copy of the
blockchain so the network remains decentralized

30.
@SDWOUTERS
8 Make it easier for small miners to compete
so we have more decentralization
VS

31.
@SDWOUTERS
9 Make it easier and safer to
store bitcoins on any device
Covenants

32.
@SDWOUTERS
9 ways to Improve Bitcoin
1
2
3
4
5
6
7
8
9
Make transactions take up less space on the blockchain
Move less important transactions off the main blockchain
Speed up transactions
Increase privacy and put it in the hands of the user
Make it easier for the developer ecosystem to grow
Enter new markets
Make it easier to run a copy of the blockchain
Make it easier for small miners to compete
Make it easier and safer to store bitcoins

33.
@SDWOUTERS
1
2
3
4
56
7
8 9
There are discussions about if/in which
order these should be implemented

36.
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‣ Founded in 2009 as DearMedia.
‣ We work for large European clients.
‣ We have a strong vision on the impact
of digital and act accordingly.
‣ We are advisors, writers, coaches and
entrepreneurs.